EQUITY MULTIPLE 2.18x
LEVERAGED IRR 74.37
Built in 1989 and located in the East Las Vegas submarket the 192 unit apartment property presented a value-add opportunity for DIG as the Las Vegas job market and housing demand continued to outpace national averages. The property
was lender owned (REO) being mismanaged by the loan servicer and in need of renovations.
DIG completed a renovation program that included remodeling the clubhouse, office, indoor pool & spa, sauna, showers, fitness center, model unit and apartment interiors. The property was sold in December of 2018 with occupancy above 94%.